Asset servicing

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Definition

The term "asset servicing" describes a set of tasks and activities provided by a custodian to its clients (pension funds, asset managers, insurance companies, etc.) around the assets under its custody. Examples include:

notification and processing of securities transactions (coupon drop, dividend payment, bonus share allocation, stock split, etc.);
new issue services;
payment of income (dividends and coupons) and redemption of fund units or shares;
management of tax issues: withholding tax and claims;
proxy voting service on securities held.